Over 2,000 financial advisers were questioned for the survey and 66 per cent said they were using social media.
Reasons given for not using social media were users did not know how to use it, did not see it as useful or did not have the time.
The most popular reasons for using sites were to keep up with industry news, talk to other advisers, talk to journalists and talk to clients.
There were clear benefits to using social media as 19 per cent of advisers who used social media said they had gained new clients through the sites while this figure doubled to 40 per cent for those who used social media daily.
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Almost 20 per cent of advisers said they had a social media strategy in place to help achieve the best results from social media.
Head of FSM UK Bridget Greenwood will be speaking at the IFP's social media conference. She will be speaking on integrating social media into your business and any compliance issues.
She said: "It's common for businesses to be wary of social media in case their reputation is damaged or they fall foul of the regulator. Often companies are unaware of the simple measures they can put in place to resolve many of these concerns. A working social media policy goes along way, proper training for everyone involved with social media, monitoring and publishing controls can all help to make sure your social media stays on track."
The IFP conference will be held at the America Square Conference Centre in London on 28 February.

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